Sun: Banks drag market down

Strong rises by Teva and Perrigo could not compensate for the declines by the big banks.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.64% to 1,634.32 points, the Tel Aviv 100 Index fell 0.45% to 1,423.70 points, and the BlueTech 50 Index fell 0.87% to 366.00 points. Turnover was NIS 556.4 million.

In the foreign currency market, futures trading pointed to the shekel-dollar representative exchange rate rising 0.62% from Friday's rate to NIS 3.882/$, while the shekel-euro rate was up 0.20% to NIS 4.352/€.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index rose 0.06%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 2.54%, for the highest rise today on the Tel Aviv 25 Index, on the day's largest trading turnover, and Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 1.91%.

Bank Leumi (TASE: LUMI) fell 2.2%, Bank Hapoalim (TASE: POLI) fell 1.81%, Israel Discount Bank (TASE: DSCT) fell 2.55%, and Mizrahi Tefahot Bank (TASE:MZTF) fell 1.64%.

Strauss Group Ltd. (TASE:STRS) fell 3.3% for the biggest fall on the Tel Aviv 25 Index and Delek Group Ltd. (TASE: DLEKG) fell 1.49%.

Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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